DCIT 8(3), MUMBAI v. SHINGAR P.L TD, MUMBAI

ITA 4264/MUM/2013 | 2008-2009
Pronouncement Date: 29-09-2016 | Result: Dismissed

Appeal Details

RSA Number 426419914 RSA 2013
Assessee PAN AABCS4563J
Bench Mumbai
Appeal Number ITA 4264/MUM/2013
Duration Of Justice 3 year(s) 4 month(s) 1 day(s)
Appellant DCIT 8(3), MUMBAI
Respondent SHINGAR P.L TD, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 29-09-2016
Appeal Filed By Department
Order Result Dismissed
Bench Allotted E
Tribunal Order Date 29-09-2016
Date Of Final Hearing 10-09-2015
Next Hearing Date 10-09-2015
Assessment Year 2008-2009
Appeal Filed On 28-05-2013
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) ITA NO. 4264/MUM/2013 ASSESSMENT YEAR: 2008-09 THE DCIT 8(3) ROOM NO. 217 AAYAKAR BHAVAN M.K.MARG MUMBAI- 400 020. VS. M /S. SHINGAR LTD. KALPATARU 71 NUTAN LAXMI SOCIETY N.S.ROAD NO.9 JUHU SCHEME VILE PARLE(W) MUMBAI- 400 049. PAN- AABCS4563J (APPELLANT) (RESPONDENT) APPELLANT BY : CAPTAIN. PRADEEP ARYA. RESPONDENT BY : SHRI. N.K.BHUTA DATE OF HEARING: 2 9 /0 9 /2016 DATE OF PRONOUNCEMENT: 29/09/201 6 O R D E R PER RAM LAL NEGI JM THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAI NST ORDER DATED 19/03/2013 PASSED BY THE LD CIT(APPEALS)-18 MUMBAI FOR THE AS SESSMENT YEAR 2008-09. 2. THE REVENUE HAS CHALLENGED THE IMPUGNED ORDER O N FOLLOWING EFFECTIVE GROUNDS:- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE AND IN LAW THE CIT(A) ERRED IN QUASHING THE PROCEEDINGS U/S 147 OF THE ACT BY RELYING ON THE DECISION OF THE HONBLE SUPREME COUR T IN CIT VS. KELVINATOR OF INDIA LTD. 320 ITR 561 WITHOUT APPR ECIATING THAT UNLIKE IN THE CASE CITED SUPRA IN THE INSTANT CAS E THE ISSUE OF 2 ITA NO. 4264/MUM/2013 ASSESSMENT YEAR: 2008-09 COMPUTING BOOK PROFIT U/S 115JB HAD NOT BEEN CONSID ERED BY THE A.O. AT THE TIME OF PASSING THE ORIGINAL ASSESSMENT ORDER. 2. 'ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE AND IN LAW THE CIT(A) ERRED IN NOT DECIDING THE ISSUE OF MAT ON BO OK PROFIT U/S 115JB WITHOUT APPRECIATING THAT THE ASSESSEE WAS LI ABLE FOR THE SAME'. 3. AT THE OUTSET THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE TAX EFFECT IN THIS CASE IS BELOW RS.10 00 000/- AND AS PER THE CBDT CIRCULAR NO. 21 OF 2015 DATED 10/12/2015 THE PRESENT APPEAL IS NOT M AINTAINABLE. 4. THE LD. DR FAIRLY ADMITTED THAT THE TAX EFFECT I N DEPARTMENTS APPEAL IS BELOW RS.10 LAKHS WE FIND THAT THE ISSUE RAISED IN APPEAL DOES NOT FALL UNDER ANY OF THE EXCEPTIONS SPECIFIED IN PARA 8 OF THE C IRCULAR. SINCE IT HAS BEEN SPECIFICALLY CLARIFIED IN THE CIRCULAR AFORESAID TH AT THE INSTRUCTION WILL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEALS; THE PRE SENT APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. WE THEREFORE DISMIS S THE SAME IN LIMINE . ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH SEPTEMBER 2016 SD/- SD/- ( B.R.BASKARAN ) (RAM LAL NEGI) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED: 29/09/2016 3 ITA NO. 4264/MUM/2013 ASSESSMENT YEAR: 2008-09 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A)- 4. / CIT 5. !' $ !'% / DR ITAT MUMBAI 6. &' ( / GUARD FILE. / BY ORDER ) //TRUE COPY// / (DY./ASSTT. REGISTRAR) / ITAT MUMBAI PRAMILA